This dissertation consists of two chapters, both of which study the wealth inequality using heterogenous agent general equilibrium model. In particular, the first chapter focuses on a government policy and its implications on wealth inequality. The second chapter incorporates cost to high return assets to generate realistic wealth mobility in the…

President Biden's recent announcement regarding student debt relief has brought the issue to center stage across Pennsylvania and the U.S. Access to quality higher education is so important to Pennsylvania's individuals and families, yet the high cost of college in the state has both limited who has access to a good education and, for those…

Queer people continue to feel the effects of queer oppression in higher education and beyond, including unique financial challenges. The price of being queer is troubling in a world ordered around capitalism and heteronormative privilege. The purpose of this paper is to examine the financial landscape for queer students and call for a robust…

Americans are anxious about rapidly rising levels of student debt. They wonder whether payments are affordable and if financing college with debt will pay off in the end. But recent news suggest another issue is increasingly on borrower's minds: bad customer service and shoddy advice during loan repayment. This can leave borrowers feeling confused…

While the tuition fee system has had a large amount of political and media attention in the last two decades, far less attention has been paid to the student maintenance system -- the amount of funding students have access to for day to day living expenses. But for many students, this funding is of more immediate importance, and can have a major…

This paper asks whether Bourdieu's notion of symbolic violence is a helpful lens through which to view student loan systems. Symbolic violence occurs when two unequal agents unconsciously conspire in the oppression of the less empowered agent, thus reinforcing and legitimating existing stratifications. Using England as a case study, we draw on…

Student debt has been a crisis for years, and the pandemic has only exacerbated matters for many borrowers. This is especially true for Black borrowers, who are among those most negatively affected by student loans -- due, in large part, to systemic racism, the inequitable distribution of wealth in this country, a stratified labor market, and…

The COVID-19 pandemic has led to a rapid and substantial increase in unemployment and to uncertainty about future job prospects. Despite this increased uncertainty, parents' expectations that their children will pursue postsecondary studies remained high during the lockdown--91.7% of children whose parents were surveyed in May or June 2020 were…

When it comes to social mobility, the goalposts are always moving. As access to any given level of education becomes more common, inequalities tend to move upwards, with those from better-off backgrounds seeking to keep their advantages. While access to undergraduate degrees has been improving, with more and more young people going onto…

Student funding remains hotly contested. In this HEPI Debate Paper, Alan Roff examines the findings of the Office for Budget Responsibility, which regards the past treatment of student loans in the national accounts as a 'fiscal illusion'. Roff explores the consequences of this change of heart and pushes for an alternative approach to student…

Student loan debt in the United States exceeds $1.5 trillion. The enormity of student loan debt has received extensive media attention, with reports presenting the sheer mass of student loan debt as a national crisis. Borrowing patterns among undergraduates indicate that this is a pronounced issue among Black students who are more likely to…

The purpose of this study was to explore the relationship between student characteristics and student retention in a predominantly online college using data from two cohorts of entering students in either 2017-2018 or 2018-2019. Due to the dichotomous nature of the dependent variable indicating retention, this study relied on the point biserial…

The purpose of the current study was to examine the experiences of Latinx students with their student loan debt. Guided by McKinney et al.'s (2015) Student Borrower Behavior and Attitudes model, we framed our study around the following themes: "sources of information," "rationale for borrowing," and "the burden of…

Governments around the world use grant and loan programs to ease the financial constraints that contribute to socioeconomic gaps in college completion. A growing body of research assesses the impact of grants; less is known about how loan programs affect persistence and degree completion. We use detailed administrative data from Chile to provide…

The national conversation on student loan debt has led to questioning the value of American higher education. Students are relying on federal and private student loan products to pay for the cost of attendance at American higher education institutions. To address this challenge, many institutions have launched no-loan initiatives. One such…